{"id":98704,"date":"2022-06-17t16:15:44","date_gmt":"2022-06-17t20:15:44","guid":{"rendered":"\/\/www.g005e.com\/?p=98704"},"modified":"2022-12-22t00:39:50","modified_gmt":"2022-12-22t05:39:50","slug":"five-priorities-all-successors-share","status":"publish","type":"post","link":"\/\/www.g005e.com\/2022\/06\/17\/five-priorities-all-successors-share\/","title":{"rendered":"five priorities all successors share"},"content":{"rendered":"<p><strong><a href=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/02\/5insand_dollarphotoclub_24637062.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-large wp-image-38911\" src=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/02\/5insand_dollarphotoclub_24637062-590x393.jpg\" alt=\"number 5 drawn in sand\" width=\"424\" height=\"282\" srcset=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/02\/5insand_dollarphotoclub_24637062-590x393.jpg 590w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/02\/5insand_dollarphotoclub_24637062.jpg 300w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/02\/5insand_dollarphotoclub_24637062.jpg 600w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/02\/5insand_dollarphotoclub_24637062-290x193.jpg 290w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/02\/5insand_dollarphotoclub_24637062-190x126.jpg 190w, https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2015\/02\/5insand_dollarphotoclub_24637062.jpg 1600w\" sizes=\"(max-width: 424px) 100vw, 424px\" \/><\/a>everyone wants a smooth transition.<\/strong><\/p>\n<p><i>by ira rosenbloom<\/i><\/p>\n<p class=\"mm8nw _1j-51 iwv3d _1food _3m0fe aujbk iwv3d public-draftstyledefault-block-depth0 fixed-tab-size public-draftstyledefault-text-ltr\"><span class=\"_2phjq public-draftstyledefault-ltr\">the complexities of succession are significant no matter whether the route you take is internal or external. either scenario requires a significant time investment, and each one has different features with associated levels of change and adjustment.<\/span><\/p>\n<blockquote>\n<p class=\"mm8nw _1j-51 iwv3d _1food _3m0fe aujbk iwv3d public-draftstyledefault-block-depth0 fixed-tab-size public-draftstyledefault-text-ltr\"><span class=\"_2phjq public-draftstyledefault-ltr\"><b>more: <\/b><a href=\"\/\/www.g005e.com\/2022\/05\/13\/refocus-on-year-round-best-practices\/\">refocus on year-round best practices<\/a> | <a href=\"\/\/www.g005e.com\/2022\/03\/25\/5-keys-to-ma-success\/\">5 keys to m&amp;a success<\/a> | <a href=\"\/\/www.g005e.com\/2021\/12\/30\/10-steps-to-a-superior-tax-department\/\">10 steps to a superior tax department<\/a> | <a href=\"\/\/www.g005e.com\/2021\/10\/29\/10-ways-to-protect-your-best-clients-from-your-competitors\/\">10 ways to protect your best clients from your competitors<\/a> | <a href=\"\/\/www.g005e.com\/2021\/10\/08\/are-you-overthinking-an-ma-deal\/\">are you overthinking an m&amp;a deal?<\/a> | <a href=\"\/\/www.g005e.com\/2021\/08\/27\/how-to-put-the-success-in-succession\/\">how to put the \u2018success\u2019 in succession<\/a><\/span><\/p>\n<p><strong><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-49700 size-full\" src=\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/08\/yellow_key_clip_art-e1375897299811-36p-hi-1-e1603911598474.jpg\" alt=\"goprocpa.com\" width=\"39\" height=\"16\" \/><span style=\"color: #b79c00;\">exclusively for pro members. <\/span><\/strong><span style=\"color: #b79c00;\"><a style=\"color: #b79c00;\" href=\"\/\/www.g005e.com\/wp-login.php?redirect_to=\/\/www.g005e.com\/2022\/06\/17\/five-priorities-all-successors-share\/\">log in here<\/a> or <a class=\"external\" style=\"color: #b79c00;\" href=\"http:\/\/goprocpa.com\/\" target=\"_blank\" rel=\"noopener\">2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\n<p class=\"mm8nw _1j-51 iwv3d _1food _3m0fe aujbk iwv3d public-draftstyledefault-block-depth0 fixed-tab-size public-draftstyledefault-text-ltr\"><span class=\"_2phjq public-draftstyledefault-ltr\">however, regardless of where they come from or how they got there, cpa firm successors share common ground in the five priorities below. <\/span><\/p>\n<p><!--more--><\/p>\n<p class=\"_1j-51 _1food _3m0fe aujbk iwv3d\"><strong>1. money: <\/strong>external successors and internal successors both want to understand how they will make money. internal successors may see the dollar signs accruing from the terms of the buy-in, plus the flexibility to cut clients and streamline operations. external successors will see the upside coming from cost savings, new services, efficiencies and better talent.<\/p>\n<p class=\"_1j-51 _1food _3m0fe aujbk iwv3d\"><strong>2. data:<\/strong> decisions will be dependent on meaningful and accurate engagement performance data and overall financial consequences. internal successors need to have access to data well before they are presented with an offer to buy. external successors need a comprehensive package of data well before due diligence.<\/p>\n<p class=\"_1j-51 _1food _3m0fe aujbk iwv3d\"><strong>3. culture:<\/strong> comfort with transparency, decision making and personnel policies is essential for any succession. internal successors have to feel that the firm is moving in the right direction, and that they will have a real impact. external successors need to see synergies, and the ability to build a better environment collaboratively and collegially.<\/p>\n<p class=\"_1j-51 _1food _3m0fe aujbk iwv3d\"><strong>4. future:<\/strong> all successors are motivated by the future \u2013 the more potential, the better. both internal and external successors must be provided with adequate information and the opportunity for exploration to allow them to gain a realistic plan for future success and future rewards.<\/p>\n<p class=\"_1j-51 _1food _3m0fe aujbk iwv3d\"><strong>5. roadblocks: <\/strong>cooperation is the key to a successful transition. pushback on how the process will happen, and\/or an inclination to micromanage the transition process, will discourage potential successors coming from outside or in. facilitating introductions, volunteering ways to stimulate relationships, and implementing ways to bond clients to the firm (and not the individual) will bring successors great comfort.<\/p>\n<p id=\"viewer-4o419\" class=\"mm8nw _1j-51 iwv3d _1food _3m0fe aujbk iwv3d public-draftstyledefault-block-depth0 fixed-tab-size public-draftstyledefault-text-ltr\"><span class=\"_2phjq public-draftstyledefault-ltr\">cpa firms are businesses. successors will have their own view and preferences for running their business. whether you are dealing with internal or external succession, recognize that businesspeople will have common priorities and different preferences. understanding this at the start will help pave the way for a smooth transition.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p><strong>everyone wants a smooth transition.<\/strong><br \/>\n<i>by ira rosenbloom<\/i><\/p>\n","protected":false},"author":3507,"featured_media":97109,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[1363,2371,3120,3002],"tags":[],"class_list":["post-98704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-mergers-acquisitions","category-pro-member-exclusive","category-special"],"acf":[],"yoast_head":"<!-- this site is optimized with the yoast seo plugin v23.7 - 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